Home Must Reads Oregon gets pay-per-mile car insurance

Oregon gets pay-per-mile car insurance

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Must Reads
Friday, December 07, 2012

California technology company MetroMile debuted an insurance product in Oregon that charges drivers based on the number of miles driven each month.

MetroMile is targeting low-mileage drivers who may commute primarily by bicycle or mass transit. The Redwood City, Calif., company, which has raised more than $4 million in venture funding, contends that its per-mile payment system will save lower-mileage drivers between 20 percent and 50 percent on their insurance costs compared to equal or better insurance products.

The company issues drivers a proprietary device called the Metronome that plugs into their car to extract real-time driving data. Drivers would pay “a few cents per mile” plus an additional base rate monthly for full insurance coverage, the company said in a news release.

Read more at Sustainable Business Oregon.

{biztweet}metromile{/biztweet}

 

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